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Michael Klein

Professor of International Economic Affairs, Fletcher School, Tufts University
Michael W. Klein is the William L. Clayton Professor of International Economic Affairs. He served as the chief economist in the Office of International Affairs of the United States Department of the Treasury from 2010-2011. He is a research associate of the National Bureau of Economic Research, and the founder, research director, and co-executive editor of EconoFact, a website that provides economic analysis on timely policy issues (econofact.org). He has been a visiting scholar at the International Monetary Fund, the Board of Governors of the Federal Reserve, the Bank of England, and the Federal Reserve Banks of Boston, New York, San Francisco and Dallas. His research and teaching focus on international macroeconomics.

Klein has published three books and over two dozen articles on topics such as exchange rate policy, international capital flows, the impact of trade on the U.S. labor market, and the determinants of foreign direct investment. His research has been supported by grants from the Upjohn Institute for Employment Research and the Bill and Melinda Gates Foundation. He received a Ph.D. in economics from Columbia University and a B.A. from Brandeis University.

Why spending $2 trillion on child care, health care and fighting climate change won't make inflation any worse than it already is

Dec 20, 2021 09:57 am UTC| Economy

One of the main concerns raised by critics of President Joe Bidens Build Back Better plan is that it will drive up inflation, which is already running at the fastest pace in four decades. The Senate is currently...

Central Banking Series

Paul Volcker helped shape an independent Federal Reserve – a vital legacy that's under threat

Dec 11, 2019 03:57 am UTC| Insights & Views Central Banks Economy

Paul Volcker, who died on Dec. 8, is the poster boy for central bank independence and why it matters. One of his legacies, as you may have read in the many obituaries published since his death, is taming the runaway...

Fed’s rate cut signals a recession may be ahead – and it may not have enough ammunition to fight it

Sep 22, 2019 13:54 pm UTC| Insights & Views Central Banks

The Federal Reserve seems a lot more concerned about the state of the economy than its been letting on. The Fed lowered its target interest rate by a quarter point on Sept. 18, the second such cut since July and the...

Why Federal Reserve independence matters

Jun 21, 2019 01:42 am UTC| Insights & Views Central Banks Economy

Should you care if the Federal Reserve loses its independence? Its become a growing risk in recent years as President Donald Trump has repeatedly attacked the U.S. central bank over interest rate policy and tried to...

Economy

Impact of Iran-Israel conflict on Stocks, Gold and Bitcoin

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation,...

Japan Posts 7.7% Growth in Machinery Orders

In a striking development that looks set to invigorate Japans economic prospects, a key gauge of capital spending in the country has seen its most significant jump in over a year. According to Cabinet Office data released...

Digital trade protocol for Africa: why it matters, what’s in it and what’s still missing

In February 2024, African heads of states adopted a draft protocol to regulate digital trade within the continent. This significant yet challenging course for Africas digital economy fits into the broader trade agreement,...

Industry shutdowns are messy and painful: 4 lessons Australia’s coal sector can learn from car-makers about bowing out

Shifting Australias electricity sector to low-carbon technologies and closing coal plants is vital to tackling climate change. But such transitions are easier said than done. People and economies are often deeply...

Food prices will climb everywhere as temperatures rise due to climate change – new research

Climate change, and specifically rising temperatures, may cause food prices to increase by 3.2% per year, according to a new study by researchers in Germany. As climate change continues to worsen, this price inflation will...

Politics

Nvidia RTX 4090D Embroiled in US-China Tech Rivalry; South Korea Navigates Chip Export Dilemma

The U.S. government has tightened export restrictions on high-performance semiconductor chips to China, including the Nvidia RTX 4090D, and is urging South Korea to enforce similar curbs, marking a significant escalation...

Canada needs a national strategy for homeless refugee claimants

One year after the federal government closed Roxham Road, refugee claims in Canada continue to increase: there were 143,785 in 2023 compared to 91,730 in 2022. The surprise announcement in March 2023 to modify Canadas...

US and Japan Boost AI, Semiconductor Alliance; EU Eyes Reduction in China Dependence

Japan and the United States are poised to deepen ties in the high-tech sector, signaling a strategic move to enhance their global partnership with a focus on artificial intelligence and semiconductor...

US Finalizes Ban List for Chinese Chipmakers; Boosts Mexico Semiconductor Ties

The United States is finalizing a list of Chinese chip factories banned from receiving vital technology, aiming to curb Beijings tech advancements amid national security concerns. Concurrently, a US-Mexico semiconductor...

China's Commerce Minister to Advocate EV Sector in Europe Amid Subsidy, Tariff Probe

Chinas Commerce Minister Wang Wentao is set to visit Europe in April to address concerns and advocate for the Chinese electric vehicle (EV) industry amid a European Commission investigation into alleged unfair...

Science

Exploding stars are rare but emit torrents of radiation − if one happened close enough to Earth, it could threaten life on the planet

Stars like the Sun are remarkably constant. They vary in brightness by only 0.1% over years and decades, thanks to the fusion of hydrogen into helium that powers them. This process will keep the Sun shining steadily for...

An eclipse for everyone – how visually impaired students can ‘get a feel for’ eclipses

Many people in the U.S. will have an opportunity to witness nearly four minutes of a total solar eclipse on Monday, April 8, 2024, as it moves from southern Texas to Maine. But in the U.S., over 7 million people are blind...

How do airplanes fly? An aerospace engineer explains the physics of flight

Airplane flight is one of the most significant technological achievements of the 20th century. The invention of the airplane allows people to travel from one side of the planet to the other in less than a day, compared...

The mystery of consciousness shows there may be a limit to what science alone can achieve

The progress of science in the last 400 years is mind-blowing. Who would have thought wed be able to trace the history of our universe to its origins 14 billion years ago? Science has increased the length and the quality...

What is minoxidil, the anti-balding hair growth treatment? Here’s what the science says

Hair loss (also known as alopecia) often affects the scalp but can occur anywhere on the body. Its very common and usually nothing to worry about; about half of Australian men show signs of visible baldness at age 50 and...

Technology

Worldcoin Introduces World Chain to Enhance Human-Focused Blockchain Efficiency

Worldcoin, led by OpenAI CEO Sam Altman, unveiled its new blockchain, World Chain, on April 17. Designed to elevate human users over bots, World Chain aims to streamline efficiency and foster practical utility in Web3...

US Senators Push for Stablecoin Regulation to Protect US Dollar Dominance

U.S. Senators Kirsten Gillibrand and Cynthia Lummis have introduced the Lummis-Gillibrand Payment Stablecoin Act. This legislation establishes stringent guidelines for stablecoin issuers to enhance consumer protection and...

Tesla's Flood Resilience Tested by Dubai's Historic Rainfall

As Dubai experienced its heaviest rainfall in 75 years, Tesla vehicles were spotted expertly maneuvering through the citys severely flooded streets. Social media footage shows these electric vehicles crossing water-logged...

Volkswagen Unveils New EV Platform in China to Cut Costs, Challenge BYD

In a strategic move to undercut rivals and boost market share, Volkswagen announced a new cost-effective EV platform in China, developed in partnership with XPeng, to launch in 2026. Volkswagen Partners with XPeng to...

Pepe Coin Climbs 6%: Market Braces for Potential Profit-Booking Selloff

Pepe Coin, the funny frog-themed meme cryptocurrency, has once again piqued the interest of crypto aficionados, with its price rising by an impressive 6% today. This revival coincides with a broader market recovery...